Hozon Auto develops and manufactures electric cars exclusively for the Chinese market, and holds one of the country's ten licenses for manufacturing and selling electric cars. The feasibility study will be conducted by staff from Hozon Auto and myFC. The objective is a technical definition of a prototype introduction of LAMINA REX, and then evaluate potential continued collaboration. myFC's emissions-free fuel system is also included in the feasibility study.

"China is definitely ahead of the curve when it comes to the development of electric vehicles, and there are prognoses that more than half of all electric vehicles sold in 2019 will be sold in China. Its automotive industry is highly advanced, and it is part of our strategy to cooperate with strong partners. I'm very proud to now say that Hozon Auto is one," says Björn Westerholm, CEO of myFC.

Hozon Auto has a clear partner strategy to bring in technology and design from third parties. The company's headquarters are in Shanghai, its R&D is located in Shanghai and Jiaxing, design in Beijing and Turin, technology and validation in Stuttgart and finally, development of smart, interconnected self-driving cars in Silicon Valley. The vehicles are manufactured and distributed in Tongxiang. Hozon's ambition is to become a market leader with high quality and smart, connected cars.

"We are impressed with myFC's technology and REX solution and intrigued by how it could benefit Hozon Auto's development of long-range low-cost electric vehicles. A tail-pipe emissions free fuel is of course high on our agenda as well, so we look forward to this cooperation," says Dr. Kevin Zhao, Chief Engineer, Hozon Auto.

LAMINA REX is based on myFC's patented LAMINA technology. Charged with myFC's green fuel, consisting of salts, water and reaction components, it has the potential of doubling the range of a medium-sized electric car.

The feasibility study is planned to be delivered during the summer of 2019

This information is information that myFC is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07:50 CET on 4 March 2019.

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